HC Wainwright Forecasts Strong Price Appreciation for Syndax Pharmaceuticals (NASDAQ:SNDX) Stock

Syndax Pharmaceuticals (NASDAQ:SNDX) had its price target lifted by stock analysts at HC Wainwright from $45.00 to $47.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. HC Wainwright’s target price points to a potential upside of 138.70% from the company’s current price.

Other equities analysts have also issued research reports about the stock. Bank of America raised their price objective on shares of Syndax Pharmaceuticals from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Thursday, August 15th. Barclays raised their price target on shares of Syndax Pharmaceuticals from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 15th. Stifel Nicolaus upped their price objective on shares of Syndax Pharmaceuticals from $40.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Citigroup raised their target price on Syndax Pharmaceuticals from $30.00 to $34.00 and gave the company a “buy” rating in a report on Friday, August 16th. Finally, JPMorgan Chase & Co. decreased their price target on Syndax Pharmaceuticals from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Syndax Pharmaceuticals has a consensus rating of “Moderate Buy” and an average price target of $36.10.

Syndax Pharmaceuticals Price Performance

Shares of SNDX stock opened at $19.69 on Wednesday. Syndax Pharmaceuticals has a fifty-two week low of $13.14 and a fifty-two week high of $25.34. The stock’s 50-day moving average is $19.05 and its two-hundred day moving average is $20.31. The firm has a market cap of $1.68 billion, a P/E ratio of -5.83 and a beta of 0.92.

Institutional Trading of Syndax Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Syndax Pharmaceuticals in the second quarter valued at approximately $27,000. Values First Advisors Inc. acquired a new position in Syndax Pharmaceuticals during the 3rd quarter valued at $30,000. nVerses Capital LLC bought a new stake in Syndax Pharmaceuticals in the 2nd quarter valued at $33,000. Mirae Asset Global Investments Co. Ltd. grew its position in Syndax Pharmaceuticals by 21.3% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,078 shares of the company’s stock worth $58,000 after purchasing an additional 541 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Syndax Pharmaceuticals by 75.0% during the 2nd quarter. Quarry LP now owns 6,125 shares of the company’s stock worth $126,000 after purchasing an additional 2,625 shares during the period.

About Syndax Pharmaceuticals

Syndax Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, develops therapies for the treatment of cancer. Its lead product candidates are revumenib, a potent, selective, small molecule inhibitor of the menin-MLL binding interaction for the treatment of KMT2A rearranged, acute leukemias, and solid tumor; and SNDX-6352 or axatilimab, a monoclonal antibody that blocks the colony stimulating factor 1, or CSF-1 receptor for the treatment of patients with chronic graft versus host disease (cGVHD) and idiopathic pulmonary fibrosis (IPF).